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    NOT   CA65626P1018

NORONT RESOURCES LTD.

(NOT)
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BHP extends offer for Noront Resources as talks with Wyloo continue

11/24/2021 | 08:54am EST

TORONTOBHP Lonsdale Investments Pty Ltd. is extending is takeover offer for Noront Resources Ltd. as it continues talks with a major shareholder in the company regarding support for its proposal.

The wholly owned subsidiary of BHP says it continues to talk with Wyloo Metals Pty Ltd., which had made an offer of its own for Noront, only to be outbid by the global mining giant.

BHP raised its takeover offer, which has the support of Noront's board, to 75 cents per share from 55 cents after Wyloo made a proposal of 70 cents per share.

Wyloo owns a 37.5 per cent stake in Noront.

To allow more time for its talks to progress, BHP is extending its offer to Dec. 14. It had been set to expire on Nov. 30.

Noront is developing several projects in the Ring of Fire region in northern Ontario.

This report by The Canadian Press was first published Nov. 24, 2021.

Companies in this story: (TSX:NOT)

© 2021 The Canadian Press. All rights reserved., source Canadian Press DataFile

Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP -0.36% 46.68 Delayed Quote.12.48%
NORONT RESOURCES LTD. 0.00% 1.07 Delayed Quote.0.00%
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Financials
Sales 2020 - - -
Net income 2020 -13,9 M -11,1 M -11,1 M
Net Debt 2020 58,4 M 46,5 M 46,5 M
P/E ratio 2020 -5,49x
Yield 2020 -
Capitalization 600 M 478 M 478 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees 33
Free-Float 62,3%
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Income Statement Evolution
Managers and Directors
Alan Coutts President, Chief Executive Officer & Director
Gregory R. Rieveley Chief Financial Officer
Paul A. Parisotto Chairman
Jean Paul Gladu Independent Director
Bo Liu Independent Director
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